Warner Music starts dancing to Bronfmans tune

The Seagram heir has seen his $2.6bn purchase begin to rock and now aims to float it at $3.6bn. By Mark Kleinman

FOR starstruck music lovers the Pacific Design Center in Los Angeles was the place to be in the early hours of Valentine’s Day as Green Day, Led Zeppelin and countless other bands rocked up for Warner Music Group’s post-Grammy celebration. Having notched up an impressive 19 awards at the most important event in the music calendar, the atmosphere was typically raucous.

But one man had more reason than any other to drink to Warner’s success. Edgar Bronfman Jr, chairman and chief executive of Warner Music, knew the evening’s success was another step towards returning the company to public ownership — and earning himself a huge windfall.

On Friday, Warner filed listing documents with the Securities and Exchange Commission, the US financial regulator, ahead of a float that bankers say could value the company at more than $4 billion (£2 billion). The float will aim to raise about $750m.